Taiwanese Gogoro to invest in Maharashtra
ECONOMY & POLICY

Taiwanese Gogoro to invest in Maharashtra

Taiwanese electric mobility giant Gogoro will invest more than $1.5 billion to establish state-wide battery charging and swapping infrastructure in Maharashtra.

The proposed ‘Ultra Mega Project’ deal includes financial incentives and support from the Maharashtra government. The announcement follows Gogoro’s earlier commitment to invest $2.5 billion over eight years in Maharashtra. The proposed investment will start later this year.

The Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding $500 million that usually result in government incentives to ensure successful project execution.

“Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the agreement soon,” Gogoro said in a statement.

“As the leading State in India for electric vehicles, Maharashtra is demonstrating our strong commitment towards sustainable transportation for all. As part of the project, Gogoro will establish its India vehicle, smart battery, and battery swapping station manufacturing in Maharashtra and deploy their industry-leading smart battery infrastructure in the state, generating approximately 10,000 direct and indirect jobs,” said Maharashtra Chief Minister Eknath Shinde.

Gogoro plans to build a smart energy infrastructure in Maharashtra that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage.

“We are focused on creating a domestic supplier ecosystem that allows for domestic growth and foreign market expansion,” said Horace Luke, founder, and CEO of Gogoro, adding, “We are excited to be partnering with the Maharashtra government in its vision to transform urban transportation and provide a better path forward for its residents and businesses.”

Taiwanese electric mobility giant Gogoro will invest more than $1.5 billion to establish state-wide battery charging and swapping infrastructure in Maharashtra.The proposed ‘Ultra Mega Project’ deal includes financial incentives and support from the Maharashtra government. The announcement follows Gogoro’s earlier commitment to invest $2.5 billion over eight years in Maharashtra. The proposed investment will start later this year.The Maharashtra government categorizes Ultra Mega Projects as significant strategic investments exceeding $500 million that usually result in government incentives to ensure successful project execution.“Gogoro’s request for financial incentives was approved and endorsed by the Maharashtra state cabinet and the two parties expect to complete the agreement soon,” Gogoro said in a statement.“As the leading State in India for electric vehicles, Maharashtra is demonstrating our strong commitment towards sustainable transportation for all. As part of the project, Gogoro will establish its India vehicle, smart battery, and battery swapping station manufacturing in Maharashtra and deploy their industry-leading smart battery infrastructure in the state, generating approximately 10,000 direct and indirect jobs,” said Maharashtra Chief Minister Eknath Shinde.Gogoro plans to build a smart energy infrastructure in Maharashtra that is open and accessible and establishes battery swapping and smart battery stations as a leading source for mobility and energy storage.“We are focused on creating a domestic supplier ecosystem that allows for domestic growth and foreign market expansion,” said Horace Luke, founder, and CEO of Gogoro, adding, “We are excited to be partnering with the Maharashtra government in its vision to transform urban transportation and provide a better path forward for its residents and businesses.”

Related Stories

Gold Stories

Next Story
Real Estate

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Next Story
Real Estate

Adani begins construction of Dharavi rehabilitation homes

Construction of rehabilitation homes for eligible Dharavi residents has commenced at the 22-acre Matunga railway site, following a Bhoomi Poojan ceremony performed by Pranav Adani, Director, Adani Enterprises (AEL). The project, being implemented by Adani Navbharat Developers (ANDPL), envisages 10 towers comprising 10,432 rehabilitation apartments and 1,379 commercial and industrial units.Under the in-situ rehabilitation scheme, eligible residents will receive homes measuring 350 sq ft. Residents from Sectors 6 and 1 will be accommodated at Matunga first, followed by nearly 4,500 apartments fo..

Next Story
Equipment

Seven Propel 470 HEV electric tippers go to work on coal haulage in Chhattisgarh

Propel EV, the electric mobility division of Propel Industries and India's No. 1 electric tipper brand, has deployed seven 470 HEV electric trucks with a leading coal-haulage contractor at one of India's largest opencast coal mines in Chhattisgarh. The trucks are in daily operation, moving coal on continuous haul cycles in one of the most demanding applications in Indian mining.Why Electric - and Why CoalCoal haulage runs round the clock: heavy loads, long haul cycles, steep ramps and abrasive dust. It is also where diesel hurts most. Engines run continuously, fuel is the largest single operat..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code